I heard on NPR today that there are definite signs the recession is on its way out. One of those signs was that our GDP shrank 1%. I thought that was an interesting marker, but I suppose that’s why economists are economists and I’d rather pursue a career as a behaviorist, working with people who have severe disabilities.
What does this mean for us? Can the progressives jump up right away and say, “See? See? Obama’s stimulus package did work!” Or perhaps that conservatives can stand up and holler, “See? It did it on its own, despite the horrible stimulus package that will put your great-great-great-great- grandchildren in debt” (for the next ten years, but they’ll leave that small detail out).
Cause and effect are not always distinctly related, even when it may appear so, which means using it in argument is sketchy until studies can be done and science’s stamp of approval can be put on it by at least three different independent institutions. But it’s hard for me not to think, “Well, many economists did say it would have been worse without the stimulus package, and seeing that it’s only eight months after inauguration day, I’m willing to bet that that smart, eloquent, hard-working, productive man we call Mr. President may have had the right idea.” Of course, I’m bias because I voted for him. And campaigned for him. And bought his bumper stickers…etc.
Nonetheless, it is good news for our country and for our wallets. Perhaps this Christmas will come with a lessened sense of urgency to wait in line for 48 hours in front of Best Buy for a measly 10% off of an Xbox (maybe. It might just be embedded in our culture that missing Thanksgiving so we can spoil our kids with what they really want is better than “quality time together”).
Despite being split by two ever-conflicting ideologies on how government should be run, we have still survived and are still one nation. We will do things differently (for awhile), we may even keep some of the frugal habits we developed in this recession, much the same way my great-grandmother did from the Depression (“only two sheets of toilet paper? But grandma…”). But in the end, we have bounced back like we always have. Doesn’t that make you warm and fuzzy inside? Or is that feeling just the effects of the Recession Diet of canned asparagus and powered milk?
